Amarachi Iwuanyawu, the deputy speaker of the Imo State House of Assembly, has been placed under arrest by the Federal High Court in Abuja due to his alleged involvement in a N785 million fraud.
The judge, Inyang Ekwo, issued the ruling on Friday in response to the Economic and Financial Crimes Commission’s (EFCC) ex-parte request for the warrant arrest of Mr. Iwuanyawu, the Chairman of the Abuja-based company Sun Gold Estate Limited.
The judge instructed the EFCC to keep Mr. Iwuanyawu until February 23, 2023, when he is anticipated to be produced before the court.
READ: PDP’s nominee for governor vows to hire a lot of young people and produce a lot of doctors in Jigawa.
The Iwuanyawu case
Olarewaju Adeola, the attorney for the EFCC, argued an ex-parte case in which an estate developer named Mr. Iwuanyawu was accused of signing a contract with another Abuja company named Hokiz Investment Limited in 2012.
On the site owned by Hokiz Investment Limited in Mabushi, Abuja, Mr. Iwuanyawu’s company, Sun Gold Estate Limited, agreed to build 14 units of four-bedroom terrace homes as well as one block of six flats.
According to court documents, the two sides agreed that Sun Gold Estate, the developer, would keep 60% of the buildings, with 40% going to Hokiz Investment Limited, the landowner.
But after construction was complete, Sun Gold Estate Limited is said to have sold off every structure without the landowner’s knowledge.
Mr. Iwuanyawu was accused of stealing the 40% of the structures, which were valued at N785 million.
A petition signed by Senior Advocate of Nigeria (SAN) Abdullahi Malik on behalf of Hokiz Investment Limited was under investigation, Mr. Adeola informed the court.
The anti-graft agency bemoaned the futility of all attempts to get Mr. Iwuanyawu to comply with the allegations by way of invitations.
It claimed that Mr. Iwuanyawu had fled to the US.
But after construction was complete, Sun Gold Estate Limited is said to have sold off every structure without the landowner’s knowledge.
Mr. Iwuanyawu was accused of stealing the 40% of the structures, which were valued at N785 million.
A petition signed by Senior Advocate of Nigeria (SAN) Abdullahi Malik on behalf of Hokiz Investment Limited was under investigation, Mr. Adeola informed the court.
The anti-graft agency bemoaned the futility of all attempts to get Mr. Iwuanyawu to comply with the allegations by way of invitations.
It claimed that Mr. Iwuanyawu had fled to the US.
